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Friday, 08 January 2021 16:49

Post-Election Outlook for Aftermarket Industry in Washington, D.C.

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SEMA stands ready to advocate the interests of the aftermarket industry no matter what the prevailing political winds.

The results of the Jan. 5 runoff elections in Georgia shifted the balance of power in the U.S. Senate during the 117th session of Congress, as Democrats now control both houses of Congress along with the White House.

 

Now is the time to pause and take a deeper look at what to expect from Washington, D.C., over the next two years.

 

Despite Democrats taking control of the White House and the Senate, voters sided with Republicans in the House, where they picked up 10 seats. Democrats control the House and Senate by the narrowest of margins---a 50 Republican to 50 Democrat split in the Senate means Democrats will control the chamber starting on Jan. 20, as the vice president is the tiebreaker.

 

This means that legislation will require bipartisan support in order to have a chance of becoming law, which will temper efforts to advance heavy-handed legislation related to taxes and the environment.

 

President-elect Joe Biden will face the challenge of uniting a divided electorate as his administration works with Congress to pass legislation to help the economy recover from the damage inflicted by COVID-19. Millions of Americans are unemployed as businesses face an uncertain future, which is inextricably tied to getting the pandemic under control.

 

Despite continued partisan differences over how to safely reopen the economy, Congress came together in the final weeks of 2020 to pass a $900 billion COVID-relief bill to stabilize the economy, which was coupled with legislation to fund the federal government through September. It is important that Biden and congressional leadership collaborate on passing a recovery plan that helps distressed businesses in a fiscally responsible way.

 

Finding common ground between Republicans and Democrats is no small task, as the divide between the respective parties is as wide as it’s ever been. However, it’s important to note...


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